Manchester City soccer club found guilty of breaking major spending rules

English soccer club Manchester City has been found guilty of breaking Premier League spending rules over nine seasons in a move that sends global football regulation into uncharted waters. An independent commission charged by the Premier League to investigate 115 charges found the soccer club arranged what it described as sham accounts with several commercial partners designed to hide an additional funding stream of around 1 billion dollars. The club has signaled it will appeal the decision and has stressed its innocence but several questions remain. The first is what type of sanction it could face with speculation raging over whether it could be relegated to the championship while it could also be stripped of some of its titles. Either way, with the club set to appeal the decision, the fallout from the verdict is set to continue.